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The Trump administration has waived part of the punishment for five megabanks whose affiliates were convicted and fined for manipulating global interest rates. One of the Trump administration waivers was granted to Deutsche Bank — which is owed at least $130 million by President Donald Trump and his business empire, and has also been fined for its role in a Russian money laundering scheme.
The waivers were issued in a little-noticed announcement published in the Federal Register during the Christmas holiday week. They come less than two years after then-candidate Trump promised “I'm not going to let Wall Street get away with murder.”
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Trump Administration Waives Punishment for Convicted Banks
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You are a fluke of the universe; you have no right to be here.
(Score: 5, Informative) by NewNic on Thursday January 11 2018, @02:37AM (13 children)
Whether or not there is history, there is a clear conflict of interest here.
Deutsche Bank is the bank that was laundering money for the Russian oligarchs at the same time it was lending money to Trump when no other banks would. Nothing suspicious there.
#DrainingTheSwamp!
lib·er·tar·i·an·ism ˌlibərˈterēənizəm/ noun: Magical thinking that useful idiots mistake for serious political theory
(Score: 5, Insightful) by KiloByte on Thursday January 11 2018, @03:32AM (6 children)
So you say Obama spared those poor bankers because of his good heart? The link was just a bit less direct.
Here's a law we need so badly:
Poland, Dz.U. 1921 nr.30 poz.177 (also Dz.U. 1920 nr.11 poz.61): Art.2: An official, guilty of accepting a gift or another material benefit, or a promise thereof, [in matters relevant to duties], shall be punished by death by shooting.
Ceterum censeo systemd esse delendam.
(Score: 2) by hemocyanin on Thursday January 11 2018, @08:52AM (4 children)
Would that include bribe laundering (aka, being paid millions for short speeches)?
(Score: 2) by KiloByte on Thursday January 11 2018, @11:11AM (2 children)
Yeah, that's too obvious a trick. Likewise campaign donations (an outright monetary gain) or no-show-massive-salary employment after the term ends (promise).
Not surprisingly, politicians won't enact this particular law, and if forced to, would leave every conceivable loophole open. But it can happen, like it did in Poland less than a hundred years ago with the law I quoted — with a literal death penalty. A murder affects a single person or at most their relatives/friends, a crooked official affects millions.
Ceterum censeo systemd esse delendam.
(Score: 2) by Phoenix666 on Thursday January 11 2018, @06:03PM (1 child)
How I wish we had that law. The Constitution for the Second American Republic must include it.
Washington DC delenda est.
(Score: 0) by Anonymous Coward on Thursday January 11 2018, @07:45PM
Either under the definition of treason, or under a federal law involving providing material aid or services to a (hostile or not) foreign regime.
Having said that, America has been so long having different interpretations of laws for the 'politically connected/public figureheads' than they have for the 'common man' that I am unsure it matters anymore except in situations where the former cateogory is making an example to keep the attention of the latter category from their other longrunning misdeeds.
(Score: 2) by Phoenix666 on Thursday January 11 2018, @06:05PM
Don't forget donations to Presidential libraries and post-administration charities.
Washington DC delenda est.
(Score: 0) by Anonymous Coward on Thursday January 11 2018, @04:45PM
Be crooked individual who wants to abuse power for profit.
Think hard.
Dig up some cases and come up with moralizing grandstand to abolish death penalty for serious crimes.
Argue that if we don't punish serious crimes with death, why punish things that are "less" serious, such as white-collar crimes.
Reduce punishment for scumbaggery to a slap on the wrist with public support.
????
Profit.
(Score: 2) by arslan on Thursday January 11 2018, @03:37AM (4 children)
So no other American politician had had to make policies that affect companies that has dealings with their private ventures? This kind of stuff is not uncommon.
He's not cherry picking DB for the waiver. Its an extension of an existing waiver from a former president. You can of course draw all sorts of conclusions and conspiracy theories from it - but in the ends it is just speculation and poo flinging.
(Score: 5, Informative) by Whoever on Thursday January 11 2018, @03:44AM (1 child)
Most recent presidents have chosen to put their holdings into a blind trust, in order to avoid this exact problem.
(Score: 0) by Anonymous Coward on Thursday January 11 2018, @06:51PM
Does tax law allow for assets to be put into a blind trust without causing a tax event?
(Score: 4, Informative) by Anonymous Coward on Thursday January 11 2018, @05:52AM
Possibly. It is also illegal, immoral, and possibly fattening. And for a sitting Precedent, unconstitutional. See: Emoluments Clause.
(Score: 3, Interesting) by DeathMonkey on Thursday January 11 2018, @06:42PM
You People Made Me Give Up My Peanut Farm Before I Got To Be President [theonion.com] -- Jimmy Carter
(Score: 0) by Anonymous Coward on Thursday January 11 2018, @06:55PM
if you're not hiding some of your financial activities it just means you're a skank.